Last week, Vivo withdrew as the title sponsor of the 2020 Indian Premier League (IPL), primarily due to prevailing anti-China sentiments in the country. Vivo’s unexpected move created a space that various companies are trying to fit in, including Patanjali Ayurved. According to a new report from PTI, educational technology startup Unacademy is also bidding to fill the void.
“I can confirm that Unacademy has shown interest and has taken the bidding documents. I heard they are going to make an offer and they are quite serious. So Patanjali, if they bid, they will have competition, ”a senior BCCI official told PTI.
In case you’re not aware, BCCI invited brands to show their interest in acquiring the title sponsorship rights for IPL 2020 earlier this week. The last date to show interest is tomorrow (August 14). The deadline for submitting the final offer is August 18.
While Vivo initially paid Rs 440 million a year as part of its deal, BCCI now evaluates title sponsorship rights at Rs 300 to 350 million. This is for four months and 13 days. IPL 2020 will take place in UAE from September 19 to November 10.
“Unlike any of the other Edu-Tech apps, Unacademy has a 100 percent Indian investment. And four and a half months is the perfect time to partner with a brand like IPL and broaden your horizons in terms of brand reach, ”said a source close to development.
Also, it’s worth noting that Unacademy is part of IPL’s core sponsorship, as are other brands like Dream11 and Paytm. What differentiates central sponsorship from title sponsorship is that the former does not include the rights to the jersey. Plus, Top Sponsors get exclusive marketing opportunities.